BB Signs Deals With 20 Banks

BB has signed participation agreements with 16 scheduled banks and four financial institutions under its Tk 500-crore refinance fund to boost low-cost loans and investments for startup entrepreneurs.

Governor Dr Ahsan H Mansur joined the signing ceremony virtually, while Deputy Governor Nurun Nahar and Executive Director Husne Ara Shikha attended in person at the central bank headquarters on Tuesday.

On behalf of the central bank, Mohammad Mostafizur Rahman, director of the SME and Special Programs Department, signed the agreements with managing directors of the participating banks and financial institutions.

According to the central bank's master circular issued on July 9, entrepreneurs will now be able to access refinance loans and investments at a maximum interest/profit rate of 4%. The circular also raised the loan ceilings for startups, setting the range between Tk 2 crore and Tk 8 crore.

The meeting also reviewed a plan to form an equity investment company with 52 partner banks to further strengthen startup financing.

Officials noted that the initiative reflects the growing role of startups in driving innovation, generating employment, and attracting global investment linkages in line with the Sustainable Development Goals.

The central bank expressed hope that the refinements will make financing more accessible for promising ventures and accelerate the sustainable growth of the startup ecosystem.